Futures pointed to a slightly lower open for Canada's main stock index on Tuesday as gold prices inched lower.
The S&P/TSX Composite Index gained 36.35 to conclude Monday at 14,975.53
The Canadian dollar eked up 0.03 cents at 75.34 U.S. early Tuesday
March futures inched back 0.07% Tuesday.
Magna International said its 2019 revenue will be impacted by the sale of its fluid pressure and controls business and stronger dollar.
Crescent Point Energy slashed its 2019 capital budget by 30% compared to 2018, blaming the recent decline in oil prices,.
RBC raised the price target on Shaw Communications to $30.00 from $29.00
CIBC raised the rating on WSP Global to outperform from neutral.
On the economic front, the Canadian Real Estate Association was due out Tuesday with MLS listings for December
ON BAYSTREET
The TSX Venture Exchange inched up 1.15 points Monday to 602.92
ON WALLSTREET
U.S. stock futures poked higher Tuesday, despite the release of weaker-than-expected earnings from banking titan J.P. Morgan Chase.
Futures for the Dow Jones Industrial Average gained four points to 23,870
Futures for the S&P 500 inched up four points, or 0.2%, to 2,584.50
NASDAQ futures gained 32 points, or 0.5%, to 6,577
J.P. Morgan Chase shares fell 2.1% in the pre-market after the company reported weaker-than-expected profit for the fourth quarter. The bank’s results come a day after Citigroup posted fourth-quarter profit that beat analyst expectations. Still, its fixed-income revenue fell 21% from the previous year as trading conditions deteriorated.
Stock futures initially pointed to solid gains at the open as positive headlines around China alleviated fears of an impending slowdown in the world’s second-largest economy.
China’s National Development and Reform Commission said on Tuesday it would aim to achieve “a good start” for the economy in the first quarter, lifting hopes of further economic stimulus.
In terms of economic data, producer price index inflation and Empire State manufacturing survey numbers are due at 8:30 a.m.
Overseas, in Japan, the Nikkei 225 jumped 1% Tuesday, while in Hong Kong, the Hang Seng index recovered 2%
Oil prices advanced 78 cents to $51.29 U.S. a barrel.
Gold prices faltered $1.20 to $1,290.10 U.S. an ounce.
